Arbitration Details

JCC INC

NFA ID: 0001612

An NFA Arbitration claim is a futures or forex related dispute involving a customer and an NFA Member (or employee) or Associate. It is not a regulatory action.
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Case Summary

Case No.

Filed

Decision Date

Product

92ARB00145

08/19/1992

05/04/1993

Options (Domestic Exchange)

Summary of Parties

Customers

Members

Representatives

 ANN SOUTHER

 JCC INC LARRY ALAN KAHN SEAN PATRICK MURPHY

 JOHN CONNOLLY JAY BRUCE GROSSMAN

Proceeding Details

Panel Type

Number of Arbitrators

Proceeding Type

Location (City, State)

NON-MEMBER

3

HEARING

WASHINGTON, DC

Summary of Awards and Claims

Type

Claim Amount

Counter Claim

3rd Party Claim

Cross Claim

Compensatory

Punitive

Treble

Interest

Attorney Fees

Costs

Claim

Award

$30,000.00

$4,800.00

$0.00

$0.00

$0.00

$0.00

NA

$0.00

NA

$0.00

NA

$0.00

Claim

Award

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

NA

$0.00

NA

$0.00

NA

$0.00

Claim

Award

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

NA

$0.00

NA

$0.00

NA

$0.00

Claim

Award

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

NA

$0.00

NA

$0.00

NA

$0.00

Summary of Issues

VIOLATION OF SECTION 4C(B) OF THE CEA AND CFTC REGULATION 33.10 FOR FRAUD, CHURNING AND BREACH OF FIDUCIARY OBLIGATIONS; VIOLATION OF SECTION 2(A)(1)(A) OF THE CEA AND CFTC REGULATION 166.3 FOR FAILURE TO SUPERVISE; VIOLATION OF SECTION 13(A) OF THE CEA FOR RESPONDENTS HAVE AIDED, ABETTED AND ACTED IN CONCERT IN THE ABOVE VIOLATIONS; BREACH OF WRITTEN AND ORAL CONTRACT; COMMON LAW FRAUD AND DECEIT, AND NEGLIGENCE; VIOLATION OF NFA COMPLIANCE RULE 2-2 (FRAUD); RULE 2-29 (FALSE AND DECEPTIVE COMMUNICATIONS AND HIGH PRESSURE SALES TACTICS); RULE 2-30 (FAILURE TO OBTAIN ADEQUATE CUSTOMER INFORMATION AND LACK OF DISCLOSURE); AND RULE 2-4 (FAILURE TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE); WAIVER; ESTOPPEL; RATIFICATION; REBUTTAL/DENIAL; FAILURE TO STATE A CLAIM; AND STATUTE OF LIMITATIONS.

THIS MATTER IS DISMISSED AS TO RESPONDENTS MURPHY AND KAHN. RESPONDENT JCC INC. SHALL PAY TO CUSTOMER $4,800.00

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